Question: Develop a customer retention strategy for the company that includes the following elements: Customer segmentation: Develop a plan for segmenting customers based on their demographics,

Develop a customer retention strategy for the company that includes the following elements: Customer segmentation: Develop a plan for segmenting customers based on their demographics, behavior, or preferences, Customer engagement: Develop a plan for engaging with customers through multiple touchpoints, including social media, email, and in-person interactions, loyalty programs: Develop recommendations for implementing loyalty programs to reward and retain customers, Customer data management: Develop recommendations for capturing and using customer data to inform CRM efforts, Performance metrics: Develop a plan for tracking and evaluating the success of the CRM strategy using key performance indicators (KPIs) then develop a timeline for implementing the chosen element of the CRM strategy that outlines when each step will be completed.

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Customer Retention Strategy Elements and Implementation Plan 1 Customer Segmentation Analyze customer data to identify key demographics behavior patterns and preferences Segment customers into distinc... View full answer

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